Paragraph 1: UK Reaffirms Commitment to Inclusive Green Growth in Nigeria
The British Deputy High Commissioner to Nigeria, Jonny Baxter, has underscored the United Kingdom’s unwavering dedication to fostering inclusive green growth and sustainable development across critical economic sectors in Nigeria. This commitment was emphasized during the second edition of W.O.M.A.N by Alitheia, a prominent forum focused on empowering Women in Manufacturing, Agribusiness, and Nutrition. Held at the Deputy High Commissioner’s residence in Lagos, the event was a collaborative effort between Alitheia Capital, a gender-lens impact investing private equity firm, and Manufacturing Africa, a UK government initiative aimed at attracting Foreign Direct Investment into Nigeria’s manufacturing sector. This partnership reflects the shared vision of both nations to promote transformative and inclusive development in Nigeria.
Paragraph 2: Focus on Women-Led SMEs in Sustainable Industrial Transformation
Themed "Scaling Sustainable Manufacturing & Energy Transition for Women-led SMEs in Africa," the W.O.M.A.N forum provided a platform for diverse stakeholders, including industry leaders, women entrepreneurs, investors, policymakers, and energy solution providers, to explore the crucial role women-led businesses play in Africa’s sustainable industrial transformation. The event highlighted the importance of empowering women entrepreneurs and providing them with access to resources and opportunities to thrive in the green economy. This focus underscores the understanding that women are essential drivers of economic growth and sustainable development.
Paragraph 3: UK’s Support for Women’s Economic Empowerment
Baxter reiterated the UK’s commitment to supporting women in the transition to a greener economy, emphasizing the importance of expanding access to capital and capacity building to ensure sustainable growth. He emphasized the UK’s recognition of the indispensable role women play in this transition and their commitment to providing targeted investments and strategic private partnerships to foster inclusive growth. This support signifies a key step towards empowering women entrepreneurs and enabling them to contribute meaningfully to the sustainable development agenda.
Paragraph 4: Sustainability as an Economic Imperative
Tokunboh Ishmael, co-founder and Managing Partner at Alitheia Capital, emphasized the criticality of sustainability, stating that it’s no longer simply a desirable addition but rather an economic imperative, especially for women entrepreneurs at the heart of Nigeria’s industrial transformation. Through the W.O.M.A.N initiative, Alitheia is not only highlighting sustainable solutions but also actively scaling them. Ishmael highlighted the significant cost savings achieved through the adoption of renewable energy within their portfolio, demonstrating the financial viability of a green transition.
Paragraph 5: Addressing Challenges and Launching Initiatives
The forum addressed the significant challenges facing SMEs, particularly the escalating fuel prices and electricity tariffs that make sustainable energy adoption an economic necessity. Alitheia’s portfolio showcased the potential for substantial cost reductions through renewable energy, highlighting the economic benefits of transitioning to clean energy. During the event, Alitheia launched Nzinga, its SME capacity-building platform tailored to empower entrepreneurs with the necessary tools for sustainable business growth. Concurrently, Manufacturing Africa unveiled its Green Business Building accelerator, an initiative designed to support the growth of green businesses and foster an ecosystem for green manufacturing and job creation. These initiatives demonstrate a proactive approach to tackling the challenges faced by SMEs and fostering sustainable development within the manufacturing sector.
Paragraph 6: Call to Action for Inclusive Green Industrialization
The event culminated in a call to action focused on three key areas: expanding access to capital for women-led green businesses, strengthening ecosystems that support green entrepreneurship, and enabling policies that promote inclusive green industrialization. The knowledge-sharing sessions, exhibitions from green energy and manufacturing solution providers, and the collective call to action underscored the commitment of all stakeholders to driving sustainable development and empowering women in Nigeria’s green economy. This collaborative approach emphasizes the importance of partnerships between governments, private sector organizations, and entrepreneurs in achieving the goals of inclusive and sustainable industrial transformation.
